Thread: Iraq/Dinar News. 09/05 to 01/14/07

British economic delegation concludes visit to Kurdistan
13 / 11 / 2006 10:19:38

Lord Tim Clement Joms head of the delegation, who is visiting the British commercial Kurdistan, the delegation would encourage the British government to open a trade office in Erbil and facilitate give entry visas for students and merchants Kurdistan.

He added in a press conference held today, Monday, Arbil at the end of a two-day visit to the Kurdistan region and that "our main task will be when we come back after the promotion of the British government to open a trade office in Arbil."

He explained that he visited Arbil two years ago and met with the President that there has been a remarkable development in terms of safety and the passage of the Law on foreign investment, He pointed out that the circumstances are very encouraging in the Kurdistan region, which is heading towards development.

He also expressed optimism for the feasibility of investment in Kurdistan.
He said that the delegation would urge the government Branch to "alter the instructions to travel to Kurdistan and facilitate giving visas for students and traders because the situation here is quite different from other parts of Iraq

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Economic : mechanisms conversion grants from the international community to the Iraqi economy

D. Salah al-Din Hamid * * An economic expert The international community has made considerable efforts to provide grants to Iraq to help in reconstruction after the war, as known to the uninitiated the efforts made since 2003 to identify needs and the amount needed by Iraq and possible submission and mechanisms of transferring these grants to the Iraqi economy and to which we shall refer briefly, as follows : - Holding finance ministers and central bank governors of the seven major industrialized countries in a joint meeting on April 12, 2003, they acknowledged the need for a common effort to rebuild Iraq. The Security Council adopted resolution 1483 on May 22, 2003, which pointed to call the industrialized countries and international financial institutions to assist the people of Iraq to facilitate the provision of assistance from the international community. - United Nations hosted a meeting attended by representatives of the State "50" on June 24, 2003, since the World Bank and United Nations organizations to determine the basic needs and study the establishment of an international fund for the reconstruction of Iraq. - Both the World Bank and the United Nations and with the assistance of the International Monetary Fund to study the basic needs of Iraq during the period June-August 2003, The study presented in Dubai and the Madrid meetings of major donors and the presence of representatives from the Iraqi Governing Council and the Coalition Provisional Authority and Iraqi ministries which were agreed on during the Madrid conference, which was held for the period 23 - 24 October 2003. Donor countries have pledged at the Madrid amount to 26, eight billion dollars worth of grants. The American grant the bulk of them reaching 18, six billion dollars. It should be noted pledged some countries and international financial institutions to provide soft loans at 5, five billion dollars, which have different mechanisms of the mechanisms of grants. In order to create channels to pass these amounts grants from donor countries to Iraq in light of political and economic conditions and the lack of building Iraqi institutions and the financial difficulties abroad because of Iraq's debts, which limit the possibility of Tjerik funds abroad on behalf of Iraq at that time, Both the World Bank and the United Nations at the beginning of 2004 to establish an international fund for the reconstruction of Iraq "Fund For Iraq InternationalReconstruction" He was shortening the name of IRFFI. It grew by two funds are : Fund-World Bank for the reconstruction of Iraq World Bank Iraq Trust Fund will be managed by the World Bank. - United Nations Fund for the reconstruction of Iraq I Developmentraq UN Trust Fund GrouP be administered by the United Nations Development Program and the participation of the United Nations organizations in accordance with their competence. For the World Bank amounted to the amounts deposited in grants for the reconstruction of Iraq 456 million dollars contributed by 17 states, most European Union, Japan, the United Kingdom, Canada, Spain and Australia. these amounts have been allocated for the implementation of nine projects in the areas of education, health, municipal and other capacity-building and, Most of these projects were under way. As for the United Nations Fund amounted to the amounts deposited by 933 million contributed by 24 countries mainly Japan and the European Union, the United Kingdom, Canada, Italy, Spain, Australia and Korea. These amounts have been allocated to the sectors of education, culture, health, environment, agriculture and infrastructure. A part of the project by 50% and the rest is under way. He notes that the low percentage of the amounts of the grants had been swiped through the funds, despite the efforts of councils, This is attributed to the grant of America did not interfere in the funds, but had been submitted directly to Iraqi authorities beneficiary, Moreover, some of the donor countries preferred to offer part of the grant bilaterally, such as Japan and Korea. He also notes that the mechanisms of implementation differed between the World Bank and the United Nations, followed each method institution that works frame, as well as distribution by economic sectors, which reflected negatively on the distribution of projects according to economic sectors, and follow-up mechanisms for its implementation. The role of the Iraqi side has been weak in this subject, probably due to the fact that she started under the Coalition Provisional Authority and the lack of clarity on the role of Iraqi ministries and the time constraints imposed by donors on areas of the use of these grants.

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Economic : the oil industry provides products and the secretariat of Baghdad
Baghdad-Taha Hussein Entered Zawra general of the Ministry of Industry and Minerals new contracts with the Oil Ministry and the Baghdad residence of the company's products. An official source in the ministry in a press statement : The company entered into a contract with the Oil Projects Company affiliated to the Ministry of Oil refinery processing provides Nasiriyah Systems with a medium truck batteries cost of one billion and 366 million dinars, as well as the processing of the Basra refinery, twenty-five Kathodeh station and the operation of the protection system at a total cost of over 470 million Dinars. The source added that the company has other contracts with the secretariat of Baghdad, according to the rehabilitation and maintenance of sewers 12 stations at a total cost of more than 827 million and 940 thousand dinars. The source company ready to cooperate with all government ministries and help in the implementation of projects through the provision of service products needed in the implementation of these projects, He pointed out that the company specialized in the manufacture of electric distribution systems of the low and medium voltage systems and box trucks and industrial batteries and electronic circuits Print labs through six of the company.

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Economic : production of standby Iraqi factor cement

Baghdad-Sabah Produced by fraternity general at the Ministry of Industry and Minerals reserve materials for cement plants and rehabilitation of a section of machinery factory martyrs and Amir factory personnel through their own efforts. He said media source in the Ministry of Industry and Minerals : "The company was able to manufacture spare parts for the Kubaisa Cement Plant in accordance with contracts concluded with them in addition to replacement of huge grinder Cement Plant Kirkuk and manufacturing bridges refrigerated Akalnker of Sinjar Cement Plant and manufacturing Rolat especially Danieli Kubaisa Cement and Cement Plant Kirkuk addition to the manufacture of pipes and pieces of the Interior for the centrist Tower Altschi n Advance / RS-Bi / private Danieli Kubaisa Cement. He added : "The company is working to equip the Ministry of Education with visual impairments. The source : The company is a campaign to rehabilitate some of the factory machines martyrs and Amir factory and warehouses as three machines were introduced in the rehabilitation plan as well as to provide materials necessary precautions to those machines and the completion of the rehabilitation programmed completely in favor of The company ".

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Economic : discussion of the development of an operation room for the development of agriculture in Iraq
Baghdad-Sabah Putting Iraq to the United States proposal for the establishment of durable joint operations room for the development of agriculture in Iraq. The proposal to the reception, Dr. peace Alzobai Deputy Prime Minister for security and services in the library Rod McCaffrey agricultural American consul, who assumed his duties in Iraq recently and the delegation accompanying him. A statement issued by the Office Alzobai received a copy of the morning : "Alzobai said that we aspire to the development of the agricultural reality in Iraq through the establishment of a joint operations room and durable finish the march of steps that we have concluded the Memorandum of Understanding with the Ministry of Agriculture and the United States of America last August, which was founded on the exchange of experiences between Iraqi and American universities, in addition to applying a for the modern ways in the areas of rice production, wheat, corn and vegetables, which depend on modern irrigation systems. " He added : Alzobai "Economic relations between the countries are stronger relations can not break easily link particularly if Adomat public and private projects between the two peoples." And : "Economic ties are usually stronger and deeper political ties, which could collapse to find simple information." He pointed to the fact Alzobai agricultural delayed in Iraq He said : "The country needs to work quickly and effectively because agricultural work is closely linked to a fixed time schedule, but the position would be from bad to worse." For his part, The American consul thanked the Zubai and welcomed the remarks and praised the idea of establishing a joint operations. " The meeting was attended by Dr. Paul Sivlio Senior Adviser to the Ministry of Agriculture and the American Captain Henk Dimuraki adviser to Mr. John Casey, commander of forces America.

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Economic : the report recommends speeding up the third transparency in the issuance of legislation

The protection of pipelines and oil tanker to lift the production and exportation rates Baghdad-Haider spring Emphasized the need to re-establish the National Oil Company The morning highlight transparency third report issued by the Office of Inspector General in the Ministry of Oil. The report pointed to the most important and most prominent points of the defect in the export of crude oil and what are the negative effects reflected in the lack of flexibility and sabotage surrounding the pipe oil As well as the sabotage of wells, in addition to non-use of the fields to the border of Iraq and the exploitation of the neighboring countries. As well as the impact of transitional periods in the planning and follow-up of the oil sector. Since all these things led to a decline in rates of export of crude oil to the world market. Taking at the same time (the report) a set of measures and proposals Aimed at increasing the rates of export of crude oil and natural gas ... The report also dealt with a number of concepts that will be circulated in the importation and exportation of oil from the fines is without which were amounts to be paid by the seller or the buyer as a result of the delay in raising the quantities specified dates to be agreed upon in advance between seller and the buyer. In addition to the reference to methods of measuring crude oil exporter and the most prominent methods used for this purpose method (Alfan) or electronic meters, way expressed by the report as more accurate in measuring the quantities of oil exporter. Work on increasing the export of crude oil And on the proposed actions to increase the rates of export of crude oil and gas development report fifteen point considered sufficient to raise production rates, including reinstatement of the Iraqi National Oil Company of the doomed positive impact in achieving a better framework for the management of the oil actors, and quickly issuing the necessary legislation wealth management and investments, thereby ensuring access to specialized world companies also provide special financial system is flexible in the area of financial allocations and funding system and to provide protection crisis of oil-sector installations and pipelines and give this matter the utmost importance to rely on modern techniques and M. accompanied by developments in the petroleum industry, and accelerate the implementation of drilling programs and reclaim old wells. Akdaltekarir well as the need for demarcation of borders with neighboring countries over the exploitation of textures and fields border with the repair and maintenance and protection systems export North, South and West To achieve the flexibility to export the crisis and to reconsider the market purchasers of Iraqi oil deal with the expanding market with the Middle East so as to achieve the maximum benefit and better border exports to Iraq. In addition, the report recommended the importance of investment in the gas and to stop the waste of Gazamahrouk, which is about (60%) of the gas production ... And to speed up the implementation of projects related to the export system at ports and other sites. As well as speeding up the implementation of meters and metering system in all the positions and oil study of the causes of non-implementation of investment plans to increase production and increase export capacity, rehabilitation and specialized technical personnel and reliance on new bases for pricing of crude oil and other products. in addition to establishing a new mechanism to reduce the fines implications Delays charging ships oil Raw. The report pointed out that Iraq ranked last in the production and export, although it ranks second or third in the size of its reserves and Alenaftyhahith Iraq possesses (530) function Trakibih Exploratory drilling has been told (110) (80) which contains up : A - (115) billion barrels. B - (210) billion barrels reserve expected. C - (110) trillions of the three natural gas.

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Economic : Karbala Governor to convene a conference with the dealers maintain

To stimulate economic reality in the province Karbala - Sabah The governor of Karbala to hold an economic conference in Karbala participate in the economic efficiencies in the province, as well as traders and the local authorities to discuss the economic reality in the province. This came during a meeting between Dr. Aqeel khaz'ali with the President and members of the Chamber of Trade Karbala. He added. We are now preparing for this conference that maintaining a weight of tourist and religious, economic and hope through the exit recommendations binding for all traders or investors suggesting the establishment of the Economic Development Board comprising academics and traders. Khaz'ali He added that the purpose behind holding such a conference was to examine the economic realities and develop solutions and remedies problems and economic revitalization. He pointed out that Iraq is a future for federalism and if not applied, at least there will be economic independence of the provinces and by laying the foundation for us to ground economic or commercial investment in the province. The governor pointed out that development must be accompanied by attention to the private sector to arrange the investment, as well as openness to the Iraqis and foreign investors because the market economy is what will take place in Iraq in the immediate future if stable political and security situation in the country. Pointing "to all traders and officials to come up with a vision economic for the private sector to reduce government support, particularly as the Chamber of Commerce are experiencing a state of stalemate and the passivity of State for revitalization of concern the security file does not, therefore, must take account of religious and tourist and economic development of the province to accommodate the economic future. The Chamber of Commerce Karbala includes more than 12 thousand merchant has experienced significant upswing since the fall of the former regime on April 9, having witnessed the city of Karbala, the upswing executed by the private sector and the urban movement became one of the signs of the evolution of the city and spread horizontally from the center of the city and constructed a narrow markets and shops uncle lari and hotels in the center of the city and its surroundings.

Political first : the Central Bank of Iraq in connection with the adoption of a tight monetary policy

To reduce the high rates of inflation and improve the Iraqi dinar exchange rate, raise purchasing power Baghdad-Sabah An official source at the Central Bank of Iraq : inflation in the Iraqi economy, which negatively affected the security conditions resulting from the two sources of supply bottlenecks in the real sector, which is concentrated in the processing of fuel and its negative effects on the costs of transportation, communication and other production costs The other reason is attributable to the significant impact of aggregate demand for goods and Khadma T. in the economy. The source added in a press release received "Sabah" a copy of the annual rates of inflation reached high levels exceeded 50%, in spite of the positive developments shown by the index for consumer prices as an indicator of inflation during the month of September 2006, which was low by 13%, the inflation rate basis (which gave a figure Lacey consumer price excluding fuel and lighting, transport and communication), which represents the effects of the aggregate demand for goods and services in the Iraqi economy is still high level of not less than 33%. According to the source, the Central Bank of Iraq will adopt a tight monetary policy aimed at reducing inflation base through improved Ass R. Iraqi dinar rate and raise the purchasing power and the means to make it more attractive cash, which reflects the circumstances and encouraging indicators in the economy which would help in addressing the phenomenon of dollarization (dealing American dollar), which is one of the means unwanted in the work of monetary policy and the level of effectiveness to achieve its objectives a reduction in inflation. As interest rates Bank will assist in the diversification of financial market tools religion gradually terms enable greater levels of savings and access to the levels of cash. The source went on to say that these measures will provide a climate conducive to the economic stability which will pave the way for reconstruction and achieve the required growth as well as higher levels of employment and reducing unemployment, which will be channeled all in the future of the Iraqi economy and prosperity.

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Originally Posted by Dinar Duchess

Would someone direct me to the second statement by the CBI, I know about the one on the 13th November but cant find details on the second one, I can't keep up sorry...

Were there two different articles released by CBI today....or two articles regarding the same statement? Thanx

Would appreciate it if someone could direct us to that second statement...thank you.

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